The Executive Committee of the National Economic Council (ECNEC) has approved the country's first deep-sea project that is estimated to cost Tk 177.77 billion, report agencies.
The Japan International Cooperation Agency (JICA) will provide Tk 128.93 billion for the port to be built in Matarbari of Cox's Bazar, Planning Minister MA Mannan said at a media briefing in Dhaka on Tuesday after a meeting.
The government and the Chittagong Port Authority, the agency assigned to implement the project, will provide a total of Tk 48.84 billion.
The project is expected to be complete by 2026, according to a project document.
The port will be equipped with two terminals: one is 300 metres long and the other is 460 metres long.
Prime Minister Sheikh Hasina presided over the meeting that approved the project.
Briefing the reporters after the meeting, Planning Minister MA Mannan said that a total of nine projects were approved involving an overall estimated cost of Taka 241.13 billion.
Of the approved nine projects, seven are new while two others are revised projects.
The Planning Minister said the main objective of the project is to enhance the cargo handling capacity of Bangladesh through constructing this Matarbari Port including link road and thus fulfill the demand of international trade as well as facilitating speedy port services with the neighbouring countries.
Mannan said the Matarbari sea port would be the country's 4th port after Chattogram, Mongla and Payra and it would be built as a huge port due to the growing pressure of economic activities.
Another official at the Planning Commission said that this Matarbari Port would fulfill the government's aspirations for a deep sea port side by side creating opportunities for anchoring container-laden vessels, open goods-laden vessels and oil tankers at the port jetty.
Besides, this port will minimise the pressure on the Chattogram Port alongside meeting the growing demand of the country's import and export activities. Goods transportation to and from the potential industrial estates at Matarbari and Moheshkhali will also be facilitated once this port is established.
The Matarbari Port will have two separate Terminals having 300 meter and 460 metres length where ships having 8,000 TEUs containers could anchor due to its 16-metre draft at the port channel.
Revealing the latest progress of the implementation of the Annual Development Programme (ADP) for the July-February period of the current fiscal year (FY20), Mannan said the the implementing agencies could spend Taka 797.85 billion during this eight-month period with an utilisation rate of 37.09 per cent.
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